Given the sensitivity and changing regulatory requirements of payroll operations, many of our clients choose to outsource their payroll processing functions to BDO Limited. The benefits of this for our clients include the following:
- Clients' administration staff are freed up to do more productive/profitable tasks
- The requirement to process sensitive information is kept away from clients' offices thus reducing the risk of security breaches
- Processing is done on a cost-effective, negotiated fixed fee basis in accordance with pre-agreed timetables
- Our staff keep fully up to date with legislative requirements and changes on behalf of our clients
- Our staff liaise directly with the relevant authorities in the event of queries regarding payroll deductions
- Detailed analysis and reports are provided in respect of payroll information
- Instructions, reports and payslips can be transferred efficiently via secure, encrypted e-mail
- Electronic files can be produced for importing into electronic banking systems and Sage accounting software for payments and accounts processing respectively.
- Many clients also complement the outsourcing of their payroll function by also outsourcing their bookkeeping and management accounting processes to us.